EDM 1 – Issue 553

Tycoons under pressure as Xi Jinping pushes the ‘common prosperity’ agenda

Plus: Baidu boss basks in spotlight as new AI chip and ‘robocar’ unveiled; Huarong rescued despite biggest ever Chinese loss; and how a father-son feud turned vicious at global pork giant WH Group

Also: Xiaomi’s sales bring it close to toppling Samsung from smartphone summit; how a new anti-corruption drama is “based on a true story” and proves timely with latest Hangzhou purge; and Hongkongers are hopping mad as top Hollywood star is exempted from three-week Covid quarantine